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In a chat with ET Now, CK Narayan, Growth Avenues Asset Advisors, says the real view of how the market is poised will come by Monday morning

ET Now: Based on the options data or the options trade on Friday and the momentum that we saw in the market, what does this signal for trade come Monday or better part of next week?

CK Narayan: If you looked at the option data as we came into the new series, it actually indicates a certain neutrality towards the market. At every roll over the standard position that you see or what I would ascribe as being kind of a normal size position, somewhere between 30-32 lakhs of position of OI. Most of the strides -- let us say 7400-7500-7200-7600 -- are around 30-32 lakhs. With no particular bias, the highest strides were at about 7400 and 7500. So market really did not have any specific trend bias on the option writers or buy side. So the real view on how the market is poised will probably come by Monday morning. All I would say is that 7575-7580 was the upside target that was there before it ran into resistance. We went and reached it towards the end of the day. So we are neither here nor there. I would want to see strength coming into the market right from the opening on Monday. If it fails to do so, then it may be business as usual like we had during this week. I would hope that is not the case but it will be better to take a view on Monday only.